The Power of One Man: How the Soludo-Engineered Consolidation Transformed Nigerian
Banks to Global Players will be unveiled in Lagos at 11am on July 6, 2024, exactly 20 years
after the revolutionary banking reforms that culminated in the emergence of 25 banks that had
beefed up their capital base to a minimum of N25 billion. The book will be unveiled at Eko
Hotels and Suites, Victoria Island, Lagos, Nigeria.
Written by Dr. Ray Echebiri, a seasoned journalist and economist, the book captures lucidly the
chain of events in the Nigerian economy, and the banking industry in particular, that led to the
banking consolidation of 2004/2005, and what transpired during and immediately after the
exercise. It also captures in unmistakable terms how the banking consolidation transformed the
Nigerian banking industry and placed it on the same pedestal with the banking industry of such
regions as the Americas, Europe and Asia.
The book will be reviewed by a seasoned journalist, author and entrepreneur, Mr. Azu
Ishiekwene, Senior Vice Chairman/Editor-in-Chief of Leadership Newspapers.
The book launch will be chaired by a Professor of Economics, Akpan Hogan Ekpo. Ekpo had
functioned as Vice Chancellor of University of Uyo, Member of the Monetary Policy Committee
of the Central Bank of Nigeria, Member of the Board of the Central Bank of Nigeria, Director
General of West African Institute for Financial and Economic Management, and consultant to
many multilateral financial institutions and organisations.
The event will be graced by VVIPs, including Chief Olusegun Obasanjo, during whose
administration as President and Commander-in-Chief of the Armed Forces of the Federal
Republic of Nigeria the banking consolidation was implemented; Professor Chukwuma Charles
Soludo, Governor of Anambra State, who initiated and midwifed the 2004/2005 banking
consolidation; Mr. Babajide Sanwo-Olu, Governor of Lagos State, whose state was the
playground of the banking consolidation.
Also expected to grace the event are the Governor of the Central Bank of Nigeria, Dr. Olayemi
Cardoso, Mr. Ernest Ebi, former Deputy Governor of the Central Bank of Nigeria; other Deputy
Governors of the CBN who served with Professor Soludo; eminent bankers, captains of industry,
government officials, members of the academia and media executives.
Book on the 2004/2005 Banking Consolidation to be Unveiled in Lagos
